A look at the headlines in the sector right now:

  1. Union Cabinet approves SBI’s merger with five associate banks: The government said the decision is likely to result in recurring savings estimated at more than Rs 1,000 crore for the first year after the move.
  2. TCS considering share buyback, will discuss matter at February 20 meeting: As of December, the company had Rs 43,100 crore in cash and investments, representing nearly 9% of its market capitalisation.  
  3. Yahoo warns users of account breaches through cookie forging attacks: This is the latest development in the company’s response to a security failure reported last year, in which over a billion accounts were compromised.
  4. IT, healthcare, realty trading push Sensex, Nifty higher: After TCS’ announcement that it might buy back shares, its stocks went up 2.7%, the highest since September 2016.
  5. World stocks touch record high as US dollar loses momentum: The dollar was trading lower after a strong run for the past several weeks. 
  6. Donald Trump might be a blessing in disguise for Indian IT, says Mukesh Ambani: Speaking at a Nasscom India summit, he said the US president’s policies would help the industry and Indian talent focus on solving problems in India.  
  7. Tata Motors, Microsoft India tie up to launch the country’s ‘first connected car’: The vehicle will provide an ‘enhanced driving experience’ by using the internet of things and artificial intelligence technologies, the firms said.